THE BIS AND DIGITAL “CURRENCY”
(This week, due to company, I am on a reduced blogging schedule, and accordingly, there will be blogs today and Wednesday, and no blogs Tuesday, Thursday, or Friday. Thank you for your understanding and patience. )
G.B. spotted this article, and offered a few tangential but important comments. Essentially, it's an "update" to the Bank of International Settlements' plans to roll out digital currency, ultimately to replace cash:
BIS Innovation Hub: The Gradual March To Central Bank Digital Currency Continues To Advance
Essentially, there are two important points to note. Firstly, various central banks are already engaged in a limited roll-out of digital currencies:
The initial phase of the project saw Hub’s opened up in Switzerland, Hong Kong and Singapore. An operational agreement was signed with the Hong Kong Monetary Authority in September 2019, followed by an agreement with the Swiss National Bank in October. The Hub in Singapore began operations in November.
With phase one completed, the BIS have now moved into the second phase which they warned was going to happen when the Hub first launched. Accompanying the release of this year’s Annual Economic Report, the institution announced that the Hub is expanding to new locations in both Europe and North America.
Over the next two years, the Bank of England will be opening a centre, along with the Bank of Canada, the European Central Bank and four Nordic central banks (Sweden, Denmark, Norway and Iceland). A ‘strategic partnership‘ will also be formed with the Federal Reserve System.
East and West may appear divided in the geopolitical sphere, but in the world of central banking they are very much united behind the common goal of the Hub.
As the BIS outlined in a press release, the expansion will ‘allow Innovation Hub to spur central bank work across multiple fintech pillars‘. General Manager Agustin Carstens confirmed that the ‘new centres will expand our reach significantly and help create a global force for fintech innovation‘.
The second, and much more important point to note, is that the goal is both to digitize liquid assets and cash and essentially free this digitized currency from any connection to tangible and real assets, and to incorporate the "unbanked" or "underbanked" population of the world, some billion and a half people, into this system:
What central banks (in line with state legislatures) are not going to do is simply outlaw cash when CBDC’s become available. I believe what they want is for banknotes to dwindle to a level where they can make the argument that the servicing costs of maintaining the cash infrastructure outweigh the amount of cash still in circulation and being used for payment.
An Access to Cash report published in the UK last year warned that because of bank branch closures and the decline of ATM’s, Britain’s cash network was at real risk of collapsing. Introduce a CBDC into the equation and you can see how cash will soon be deemed nonviable. Those who might opt to use cash over a digital currency would eventually have no other option than to transfer their money into a CBDC.
One of the main goals of global planners is to target what they call the ‘unbanked‘ or the ‘underbanked‘. In other words, those who exist largely outside of the financial system and trade anonymously. The BIS Annual Report declared that 1.7 billion adults and hundreds of millions of firms ‘are tied to cash as their only means of payment‘. That is one fifth of the world’s population that central banks are seeking to bring into their world – a digital only construct in which the only alternative is a life of destitution.
Essentially, the central banking fraternity will want to be able to pinpoint the abolition of cash on the advancement of technology and the changing payment habits of the consumer, thereby taking the emphasis off themselves.
With regards to changing consumer behaviour, the unproven fear perpetuated throughout the media that cash could transmit Covid-19 has successfully managed to undermine cash to the point where a large swathe of people have stopped using it. The latest statistics from Link show that in the UK transaction volume is down 47% on this time last year.
Over time, central banks will be able to use a sustained reduction in demand for cash to their advantage. As Yves Mersch of the European Central Bank mentioned in May, ‘if our customers, the people of Europe signalled a change in payments behaviour, we would want to preserve their direct link to the ultimate owner of our currency by maintaining their access to central bank liabilities‘.
There are three problems here.
Firstly, notice where the earliest trials of digital currency were held: Hong Kong, Switzerland, and Singapore. As G.B. noted in the comments of the email accompanying the article, each place has been a hub of massive financial scandal and fraud in recent years. And as I and Catherine Austin Fitts have repeatedly warned, a move to a digital currency is a move to something which, in effect, is not a currency at all, simply because of the implied ability of central banks, at the push of a button, to modify the value of that currency at will. Say you leave your place of work with 15,000 digibooboos being deposited in your account. On your way home, you decide to stop and get some groceries. But Mr. Central Banskter needed some extra digibooboos to cover his margin calls, which amount to just a few quadrillions of digibooboos, so he decides simply to create more digibooboos at the push of a button. By the time you arrive at the checkout lane in the grocery store, the robocashier informs you that your grocery bill, which just a few seconds ago might have cost a mere 200 digibooboos, now comes to 14,000 digibooboos, leaving you to ponder whether or not to buy your groceries and figure out how to pay your mortgage (which, incidentally, is also digitized along with the title to your house), or abandon your purchase of mystery 3d-printed meat and GMO potatoes, and pay your mortgage (pronto!) before it too becomes too expensive to pay. You decide to do the latter, and rush to the nearest morgautpaycen (mortgage automated payment center), which informs you that, woops, your mortgage payment is now 15,500 digibooboos. Frantic, you try transferring money from your savings account to your transactions account, only to be told that Microsh*t corporation is interrupting the transaction to update the morgautpaycen system (and your "vaccine tatoos") with the latest updates; please standby, this will take just a few minutes, and do not cancel the transaction. By the time this has ended, a line has formed, and you make the transfer and rush home, only to find the robosheriff has arrived and repossessed your home. In fact, it's already been sold and people are already moving into it.
Think I'm exaggerating? Well, don't forget the roll of currency speculators and banksters in driving the German hyper-inflation of the 1920s so they could make huge amounts of money. In short, a digital currency frees the central banksters and speculators from the necessity of having to use far slower and clumsier methods of the manipulation of stocks, bonds, commodities, and currencies in order to manipulate currency and other types of value. They will be able to do all of that at the push of a button; it's a convenient way for the banksters to walk away from all their frauds and crimes, probably of an intergenerational nature. It's Venice all over again, on steroids.
You might as well paint a big target on yourself and all you own, and say, "Here, take it, it's yours."
There's a second problem: the U.S. constitution, which has that curiously worded phrase that only Congress has the power to "make" and "coin" money. Clearly, a digital "currency's" fulfillment of this provision is at least debatable on a number of grounds.
And finally, the third problem: What happens to all those wonderful digital "assets" if, say, the Socialist Peoples' Parasite and Piracy Party of Zhi Ping Pong, Woe Phat (thank you Hawaii Five-O) and Wahn Beeg Rhat (thank you Uncle Scrooge and Karl Barks) decides to zap it all with an electro-magnetic pulse because they're unhappy with the balance of payments (they were the ones paid off by Mr. Central Bankster with the suddenly-created digibooboos that are now worth far less). Please take all disputes to accounting; issues are typically resolved in 10-30 business days.
I suppose then were back to old fashioned analogue things like cuneiform tablets and paper records.
In short, use cash folks, as much as you can.
See you on the flip side...
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The United States are at a divide similar to that before the civil war. In fact, years ago I was the first caller on CSPAN to talk to James McPherson on his new book. I asked him if the country wasn’t headed to one in the near future. He looked dead into the camera and said he’d been thinking of that on the plane trip; but then shortly shifted to talk about something else.
Needless to say; many of people like myself saw this coming.
Today I was reading about Berlin and came across this 1919 poster titled: Berlin, Your Dancing Partner Is Death.
As in the above, the divide is being exacerbated by income inequalities, that in turn spawn other inequities across society at large. The digitization is speeding and spreading this process up exponentially.
https://berlindividedcity.wordpress.com/2013/02/17/berlin-your-dance-partner-is-death/
Like 9/11, covid1984 was an inside job that had the solutions waiting in the wings of the globalized stage to make their entrance. Their entrance to be televised by the attack poodles pretending to be the feared watch dogs of liberty. The congressional presentation of the 9/11 inside job was the PATRIOT Act. The covid1984 was the so-called stimulus package; both pre-package and ready to roll out.
What is happening now is what legal contracts call an Act of God:
https://michael-hudson.com/remarks-from-the-systematic-crises-trigggered-the-current-pandemic-progressive-way-outs-teleconference/
or
http://michael-hudson.com/
Blackrock caught again?
https://ellenbrown.com/2020/07/18/last-american-vagabond-expounds-on-my-blackrock-article-and-interview/
A massive transfer of wealth.
The source is from this web site
https://thelastamericanvagabond.com/daily-wrap-up/the-covid-coup-the-blackrock-takeover-of-american-interests/
Blackrock control stock market and bails themselves out. Bailing out the financial markets at expense of the people.
Was Covid1984 part of this op?
This video says, definitely! Yes!
Part of the plan from the get-go.
Here’s what we’re trying to sort as we duck and cover.
https://www.youtube.com/watch?v=z34ILhFs-xs&feature=em-uploademail
“Competent Government”
There is no herd immunity. You can get it over and over again. My county has 150,000 people and the hospitalizations are increasing dramatically. Most infected still don’t need hospitalization and that number has gone up off the charts. That number because of false positives is unimportant. The two numbers I watch are hospitalization and deaths. A few weeks after numbers sky rocketed hospitalization and deaths began to double and triple like you would expect. Being a small heavily Republican county they likely are not fudging the numbers. Did they release a fresh unmutated version or is the it mutating to dangerous bug again? The deaths are not what concerns me and are low. The surprise everyone is in for is this virus attacks the testacles. It sterilizes some men with no symptoms and permanently lowers the sperm count of others. If it damages sperm count permanently a little more each time you get it then very few will be able to have kids in the future. Best population control virus may not be one that kills but neuters males over time.
I like that Roger.
The masks don’t stop viruses;
but they do stop other bugs.
The herd works well as a close breathing, and contacting together herd. Break that connection just wide enough apart; and break the immunity together strength of the chain.
Wicked!
Even the Vatican gives thumbs way-up!
on such an globalized-staged evil performance!
Just another, of the countless ways, that their engineered covid1984 op, exponentially expands their
sacred killing fields;
near, dear, and afar.
[stole this]
https://youtu.be/zXUtsft0Z74
Thank you.
“Sorry, the computer shows a zero balance…don’t know what to tell ya.”
BIS would make Doctor ABS laugh all the way to the bank.
Can’t imagine how many Hail H. are going around.Clearly the meeting at “Maison Rouge” in Strasbourg is bearing fruit.
Colorado has a coin shortage. But King Soopers will be so kind to round up or down for you. If the cost is $19.50 it’s rounded up to $20.00. The extra 50 cents goes to a non profit they have named “feed the hungry.”
People are being quarantined for 2 weeks in their own home; lucky they have someone to bring food. You can’t go see a doctor if you have a cough, temperature or sore throat. You must go to the hospital. What’s going to happen this fall when children get all the normal viruses, they will get the faulty and bogus test done and end up quarantined.
Most shows on tv are showing repeats, and people don’t even realize they will get bored watching the same shows over and over again. Wouldn’t it be great if people would “wake up” a Changed person; like in Groundhog Day?
It’s called the slow burn. People can’t seem to look at causation. It doesn’t matter – until it does. Our governor is calling those who don’t wear masks “selfish bas-tards.”
This is normal, the new normal, now go back to sleep, or back to fear or back to repeats.
Never let a good pandemic pass you by…
Update from current programmes:
pilot conducted by the People’s Bank of China (PBOC), and the Project Inthanon-LionRock between Hong Kong and Thailand.
“The coronavirus pandemic has accelerated central banks’ experiment with sovereign digital currencies, as they look to distribute stimulus money more efficiently without using cash, according to the Bank for International Settlements (BIS).”
A digital yuan is being tested in pilot cities within China mainly to disburse transport subsidies, and
“is expected to become the world’s first sovereign digital currency to go live.”
https://finance.yahoo.com/news/coronavirus-hastening-central-banks-efforts-093000940.html
“World Economic Forum: The Institution Behind ‘The Great Reset'”
https://www.zerohedge.com/geopolitical/world-economic-forum-institution-behind-great-reset
“For instance, the Bill and Melinda Gates Foundation and Johnson and Johnson are ‘Strategic Partners‘, the highest stage for a participant. Only 100 global companies are Strategic Partners, and to qualify for an invitation they must all have ‘alignment with forum values‘.”
…
“At present, they [‘Co-curators‘] include Harvard university, the Massachusetts Institute of Technology, Imperial College London, Oxford University, Yale and the European Council on Foreign Relations.”
…
“‘Content partners‘ include Harvard university, Cambridge university, the Rand Corporation, Chatham House (aka the Royal Institute of International Affairs), the European Council on Foreign Relations and the Brookings Institute.” (my italics)
A pretty good layout of the (visible) perps…
Hm
https://www.youtube.com/watch?v=U_mGUQiO6m0
As Millions Pulled From WHO, Trump Admin Commits Billions To Gates-Founded Vaccine Alliance
left right paradigm much?
Digital currency isn’t just a currency it’s a permanent digital alternative AI you. Also along with digital accounting of credits is a permanent record of your life long spending habits and preferences. Also they may incorporate your lifelong geolocations, activities, health data and images into your crypto block chain profile as interest for using their mark of the beast platform. Thus they may hope to obtain a very accurate virtual digital recording of everything about you. And this from birth to the grave data will be what backs the value of this new currency. When tracking everything about everyone the next step will be to use predictive programming based upon what is stored about everyone to predict their future. Next they can take everyone’s profiles and experiment with manipulating your future movements, activities, thoughts and spending habits in desired directions.
If they succeed the video game non-player AI characters may one day start playing the completely integrated and digitalized physical world against us on their off time when we are not playing against them on the Xbox;-) Interesting vihttps://www.youtube.com/watch?v=BMvgOjGPXywdeo about how reality is sometimes altered by our brains.
Link: https://www.youtube.com/watch?v=BMvgOjGPXyw
But there is the question who will buy goods and services when they have no way of paying. My guess is this really a front for a plan worldwide murder-suicide since our ruling class has and have had no sense of how to manage society anyway. Capitalism Socialism are just words behind which they hide their utter stupidity.
This is how you transition to a Patrician economy. You come, hat in hand, before the local bigwig and get a handout. Your handout depends on you being in good graces with the bigwig. Self-reinforcing conduct…
Maybe their replies are more resignation than disbelief. Every news item thrown at us takes the theory out of conspiracy. When the normies get shown the bricks at the back of rhe theater, it might be more pertinent to wonder why the scam artists are no longer worried about exposure. And what is next? I imagine Germans in the 1920’s who saw past their inflamed and carefully directed anger felt similar to this.
That was an attempted reply to Kaibosch.
This is what is meant by advice to ‘own the culture’ right?
Reminds of illinois’ tollway changeover to ipass from tollbooths. At first it was a convenience. Just drive thru and the transponder flips on the green light. Either that or deal with rge clunky change counted out with a human cashier. Then 90% of the lanes went electronic at cruising speed. And the physical cash tolls were doible the electronic. Guess what perventage use cash now.
Isn’t social engineering a fascinating vocation choice…playing with humans so they will do what you want them to do? More interesting than working in a call center, oh wait those are disappearing too. Perhaps those employees took out college loans to become social engineers.
TUNGLA RYNE
Meadow song is sky wide open,
when gods amongst men,
in star wandering
of earthling,
seek heaven home again.
Tungla -> tungol -> tun+gol -> [homestead+song]
http://bosworth.ff.cuni.cz/finder/3/tungol
Matthew 22:21.
The Force: Youth of Sixteen Summers, The One Initiator, The Planetary Logos, Sanat Kumara. The Power: Electrical.
When Christ told the imperial guru, that he could keep his own bitcoins, they decided to nail him.
When money could not buy his silence, he was to dangerous to have around, upsetting the applecart.
All masters need oil in their lamps, bought in the local convenience store, sold by merchants.
Christ was bad for business.
The federal reserve killed jesus!
What’s yours and isn’t is all in the mine. And it’s dark as a dungeon way down in the mine.
You have a series of Stockholm Syndromed cargo cults. The same bullcrap is pulled at the cusp of every age, and this has been the case for a very long time now. Wake up. Nobody is going to do it for you.
As per “corporate speak”: what they say they’re doing is a lie; what they say they’ll not do, is the truth.
“Over the next two years… ” – lie[much faster].
“East and West behind a common goal…” – lie[factional infighting]
Looks like one goal is to steal and commit fraud on massive scales across multiple fintech pillars…
[At Blistering Speeds]
Will expand our reach [into your wallets extensively, taking money for jaywalking and for fun; and at various points of sale creating mischief on targeted individuals, companies, countries, and … [you get idea]
Another goal is to digitize land grabs; both illegal & legal[which is really stolen but rubber stamped “legal”].
Another goal is to control every damn soul on Earth through their wallets. Behave and you get food, shelter, and some spending money. Loose your slave collared wallets at your own risk. The Central Banks digital finger are encircling your neck into a 20th-worst century collar….
White Rabbit
[the 2nd much more important note… ]
The goal is not just to settle for those currently in the baking system to become slaves; but all the world’s populations to have digital slave collars/wallets[their only means to foods & shelters tied into the worldwide digital globalized slave markets. No free space; even w/in skulls, soon-to-be globally injected w/nanobots that interfaced w/brains. Absolute total control. Absolute power corrupts absolutely.
And just for fun, this absolute control will be updated; nor w/needle injections; but w/wi-fi injections. At costs, of course.
Proprietary costs, that is.
Oh, and don’t think disaster capitalism is going to lay down and sleep this covid1984 opportunity off.
Crisis by design will flourish. Why, even EMP’s will occur on schedule. Oops! I mean, will occur unexpectedly, out of the wild blue yonder. Or, is that chemtrail-blue yonder?
Cash is still King.
Although toilet paper is a close second.
Digital cash is great! – for wannabe slaves
Hell, many won’t even realize their slaves; the NWO’s definition of a masterpiece in engineering mass population$.
Even normies are telling me now about reading books by lawyers about epstiwn and how aluens are next.
All frantic foolishness has come about largely due to the “monetization” of human relationships, the idea of “Hòmo Oeconomicus”. In his book “Debt: the First 5,000 Years” Graeber has shown that over time, “money” (as we see it) has actually played a relatively limited role for most humans. Now still-normal humans are called “unbanked”. This faith in dollars, yen etc. whether it be cryptos or central-bank “fiat”, is a mere convention, but one supported by psychological conditioning tactics ranging from the devious to the extreme, as Joseph has discussed in his books. The physical coercion of the “economic process” comes after the initial brainwashing. The solution may be easier than we think. Youth back in the day thought hula hoops were an absolutely essential item and would no anything to get one, but where have all the hula hoops gone? Cigarettes are likewise “essential” only because we believe them to be so (sorry Doc). Study that topological metaphor: for every “induced need” rolled out , you can find out how to go backwards up the path and find the way back out of the maze. Warning: this is not something you can learn at on online course….
I think therefore I am…if I think I am a slave I am.
True for most items. You have outlined how to determine addiction vs need. The cv1984 siege might make hula hoops n cigarettes harder to get. Folk will find better ways. Perhaps parkour will replace hoops. Perhaps changes in diet will have good affect on sinuses and obviate percieved need for tobacco. Perhaps real food shortages will teach a carefully misguided generation how to define real food.
It took me 50 years to learn what I think is essential. As i move to secure access to what I can, i see a few others doing the same. They are not all old. They are all like me in their experience proving consensus science wrong.
First I’m not sure it’s all bad.
“A blaster can be pointed both ways”
When things are on the block chain they are transparent. This is why it is somewhat of a joke when it is said that bitcoin is used for illicit activities more than cash.
When government contracts are required to be dealt with in digital currency and on the blockchain, all the transactions can be examined.
With digital assets being developed, you can become your own bank.
A cold wallet is your digital wallet that is not accessible to any network unless you want to be. Therefore, the government cannot come in and take any of that money with negative interest rates or whatever.
Also if you look at states like Wyoming and Utah and Texas, they are developing gold banks or reserves of their own. Eventually they will be able to digitize and tokenize these. At that point you can then hold it in your wallet which is a cold wallet and not accessible to anyone but you unless you want them to be and you can become your own bank.
In fact, you can now find online banks such as Celsius which will pay you interest on your tokenized gold.
While I agree that there could be a dystopian aspect to this, it is where things are going and I do see that there could be beneficial effects.
All benefits go to those who control the system. Are you saying the cold wallet holder controls the blockchain behind the system?
Brings to mind a few stat istics. If half the 800,000 kids who go missing in the ussa each year are custody cases, then the rest are trafficking and/or runaways. Given the level of surveillance already obviously in use, how is it possible to be missing 1?
Thank you Joseph Aiello for this response to the hype and hysteria. As we become a space based economy, there will be a transition to digital systems of exchange. No matter what one’s opinion may be, it is inevitable. It does seem prudent to learn more about the different options and use cases at play in the blockchain arena. If one continues to get bowled over by what the central banks are up to, and not look into other blockchain alternatives then it might present a personal struggle that could have been avoided.
I saw this same hysteria when the personal computer entered the workplace. Don’t go chasing windmills.
I’ve noticed a few things in common about control freaks I’ve known. Little to no sympathy for others, little common sense, and almost no ability to admit they were wrong even when their measures of micro control and mismanagement destroy everything they claim they were trying to achieve. This is not for the benefit of mankind or the Earth this is about sadistic pleasure having total control over everyone and the ability to punish anyone at the push of a button. I foresee the day when humanity will have to destroy all our technological infrastructure just to be able to live again. All life on this planet will eventually get wiped out and nothing is forever including this planet. Species come and go and will continue to do so. All we can do is be the best we can in every moment we have to create the best experience we can for us and our children’s future. But that’s not what these measures are really all about. A worldwide cult is at war with everyone else and this is but another weapon they are creating to help destroy and enslave everyone else, to achieve world wide domination and hell.
In the vid chat the other night I said one word when this topic came up: BARTER
That is actually a line from one of my husband’s favorite but little known books from a few years ago called: Grandfather Bank.
It is about a world very much as you describe and the hero comes up with a word that is both a direction to point people at and a protest.
In a world where everything is digitized money and Grandfather Bank owns you for life – the only alternative or way to protest is:
BARTER.
I do know it is really more complex than that, but I also feel it may be time to re-read the book.
Agree – its been on my mind. Barter as a way to circumvent the control system and decentralize it. We need to stop spending and, as a matter of priority, stop filling the coffers of big business…whether its amazon or the major high st chains. They are part of a system that is determined to cripple us financially and we must, in turn, use what consumer power we have and pull the plug as far as possible and degrade them. The destruction of middle income earners will partly ensure that anyway as a huge swathe of business that relies on middle class spending is going to disappear rapidly – its already started. This coincides with an even bigger flood of cheap consumer goods from (where else) Chna and SE Asia as part of its premeditated expansionist plan to monopolise even more of the west and its economies… I keep telling people cash is going soon and the response is infuriatingly stupid. They simply fail to see (or refuse or deny) the consequences of having all of their money reduced to nothing more than a digit on a screen which is controlled by a bank! I remind them of what happened in Cyprus in ’13 when the banks dipped their hands in the till and stole money from the entire population and banned them from taking all their cash out…